Practical Math -- Unit 3 Test Part 2 Name: Please print this test off and use pencil and a ruler to complete. SHOW ALL WORK. You are not allowed to use any online resources. Scan and submit when you are done. 1. Create a scatter plot using the following information involving Jet's Ranching Business. Then use your scatter plot to draw a trend line Time 4 5 6 7 (years) Profit 1,200 8,200 22,400 25,240 41,300 51,400 55,650 58,220 ($2. From the previous graph, use the two points that have been starred (3 and 8) and draw a trend line. Then use these two points to write an equation of the line in slope-intercept form (start in point-slope first and then convert to slope-intercept). You need have the slope and y-intercept in decimal form. Round to the nearest hundredth if necessary. 3. Given your equation, what is the slope and what does it mean specifically in this case? 4. Given your equation, what is the y-intercept and what does it mean specifically in this case? 5. Using your equation, how much profit will he have in 20 years? (Round to the nearest cent) 6. Using your equation, how many years will it be when the Business is profiting $150,000? (round to the nearest whole year} 7. Using excel or a calculator, find the linear correlation coefficient to the nearest two decimals. Does the graph have a positive or negative correlation? Is it strong, moderate or weak? 8. Use your TI-84 calculator or the excel program {round equation to 2 decimals and the coefficient of determination to nearest 4 decimals or more if needed): a) Find the linear regression equation and coefficient of determination b) Quadratic regression equation and coefficient of determination c) ab-exponential regression equation and coefficient of determination d) Of the three previous equations, which one fits the data the best